California's unemployment rate fell to a new record low of 4.2 percent in April, with employers adding 39,300 jobs during the month. California has now gained nearly 3 million jobs since the economic expansion began in February 2010, according to Pacific Union Chief Economist Selma Hepp.

The Bay Area has more billionaires than almost anywhere on earth, while mortgage rates have climbed to their highest levels in almost seven years. Pacific Union's latest Real Estate Roundup has these stories and more.

Golden State home prices could eclipse their previous peaks within the next few months, while the nine-county Bay Area continued to record double-digit percent appreciation in April, pushing prices just above $1 million.

During the current housing cycle, Oakland has become a hot spot for Bay Area homebuyers who are priced out of San Francisco, so it's hardly surprising that a new study ranks the city as one America's fastest-rising real estate markets.

More Americans than ever think that now is the right to time to sell a home, while California has officially mandated that all new homes built in the state will have solar-power features. Take a look at the latest housing headlines in Pacific Union's weekly Real Estate Roundup.

While most American homeowners and prospective buyers probably do not ponder the construction sector on a regular basis, current trends in that industry could affect their wallets in the coming months.